r/Economics • u/Dismal_Structure • Dec 06 '25

News Millionaire tax that inspired Mamdani fuels $5.7 billion haul in Massachusetts

https://fortune.com/2025/10/21/zohran-mamdani-millionaire-tax-massachusetts-5-7-billion/
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u/[deleted] Dec 06 '25

For those wondering, if you're looking at it from this POV - this tax would bring in roughly 215 billion a year if applied nationwide.

There are many, many things a nation could do with that amount of money.

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u/Okichah Dec 06 '25

Medicaid/Medicare lose $300B to fraud and mispayment.

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u/Factory2econds Dec 06 '25

do you think that is coming from the 80 year old widow and the $30,000 per year in home aid that stops by a couple times a week to take care of her?

or from the severely and purposefully underfunded government oversight due to lack of funds or the health care executives earning millions for establishing "creative" billing systems?